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Anyone using bitcoin

Discussion in 'BlackHat Lounge' started by omarabid, Jun 26, 2011.

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  1. omarabid

    omarabid Registered Member

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    Hi,
    I have been a member for a long time, but didn't visit (was busy doing real work) for months. I returned now to get an eye by :cool:

    Have any BH member heard of Bitcoin, yet? Some people made thousands and thousands of $$ mining bitcoins. I wonder if the BH community is aware of that.
     
  2. wowhaxor

    wowhaxor Executive VIP Premium Member

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    There are so many things horribly wrong with bitcoin. It will crash, just a question of when in my opinion.
     
  3. alexaender

    alexaender Newbie

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    I think there are 2 or 3 threads already about it, saw one a few days ago where one of the marketplaces was hacked- and prices artificially dropped.

    Or something like that- I'ld love to be an early adopter with this- but seems more of a gamble to me...
     
  4. The Doctor

    The Doctor Jr. VIP Jr. VIP

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    some people have actually made upwards of a million. maybe more.

    there is actually nothing wrong with it. I predict it's stability will return. The value of a bitcoin is rising as we speak.
     
  5. omarabid

    omarabid Registered Member

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    The value of bitcoins will raise because of its deflationary concept. Also as difficulty for mining increase, the cost to produce bitcoins is higher, will drive bitcoin valuation even higher.

    And when Mt.Gox crashed, Bitcoin did not and kept its' $17 value.
     
  6. Annah

    Annah Regular Member

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    Ups and downs... in my opinion is pretty risky. You won't make a noticeable profit unless you get your hands dirty, in other words invest and accept the risks, which are pretty high tbh.
     
  7. dacoinminster

    dacoinminster Newbie

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    I love bitcoin, but I wonder how many of you guys have actually tried it (downloaded the software, acquired some bitcoins, etc).

    If anybody wants some bitcoins to play around with, the easiest thing to do is just buy some. I recommend TradeHill - they have lower fees than the main exchange (MtGox), and their website is more professional IMHO (and hasn't been hacked).

    I also happen to have a code that will get you 10% off your fees at TradeHill: TH-R1168

    Enjoy!
     
  8. Kalyken

    Kalyken BANNED BANNED

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    The reason for the massive uprise in Bitcoin is due to the viral activity of BitcoinBoomOrg

    Simple effective method implemented by Satoshi which created massive exposure and an uprise from the latest MtGox compromise.
     
  9. ___________

    ___________ Junior Member

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    I've been doing bitcoin for three weeks and never heard of that website. Bitcoin got popular rapidly as a trend, like Rebecca Black. Over the long term is more stable than people assume. The biggest problem is when people can dominate the market and cause their own bubbles and price changes.
     
  10. Kalyken

    Kalyken BANNED BANNED

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    What do you think created the massive spike in prices that hit the 30$ BTC mark, it was because of this released method, it was released around 13 days ago and I've already made around 23 BTC off it, better then mining in my opinion.
     
  11. ___________

    ___________ Junior Member

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    Speculation. The market was a bubble at that point. It followed the traditional bubbles of other markets. Bitcoinboom probably helped out with that significantly, but there were larger players imho. That method is certainly interesting though. I was watching several forums as bitcoins continued as it was just as the price was increasing, that people were buying a dozen or more high end cards at a time. Once bitcoin went up a few dollars, there were no 4850s to be bought anywhere in the world. Around those bubble days, videos started surfacing with people having dozens of machines with 3-4 6990s in them.
     
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